According to Canada Life’s latest IHT annual report, the lack of awareness around Inheritance Tax (IHT) has increased in the last 12 months, with 50 per cent of over-45s who are IHT-liable admitting they are oblivious to whether their property could be subject to the tax.
Confirmation is a legal document that must be obtained by an executor before any money and property belonging to the deceased can be uplifted from the holder (such as the bank) and distributed accordingly.
Dealing with the estate of a loved one can be a time-consuming and daunting experience. There are certain aspects, such as registering the death, which have set time limits, however, the full estate administration process will be different for each case. In general, it can take anywhere from six months to 18 months to wind up an estate. In this blog, we will cover some of the complexities within an estate that can cause delays.
When someone dies, the person who is responsible for administering their estate will often need to apply for ‘Confirmation’ before the deceased’s money and other property can be engathered and distributed. This blog post will cover everything you need to know about applying for Confirmation.
At Wilson & Fish, our expert executry lawyers regularly assist clients in carrying out their executry duties. We understand that acting as an executor can be a daunting prospect – at our firm, you can be assured that we will provide clear, detailed, and tailored advice.